Mortgage Broker

14 | fall 2018 cmba-achc.ca CMB MAGAZINE memberprofile CMB: What services do you provide at Ideal Mortgage? nH: We offer the full range of mortgage services: private, triple A, residential and commercial, using a variety of financing solutions. We have three full-time salaried employees, a document fulfillment specialist, an underwriter, and a full-time marketing and data management professional. We are expanding into Newfoundland soon, and looking at New Brunswick in the near future. We've spent a couple of years building infrastructure and a model, and we're ready now for that expansion. We also finalized an association with Dominion Lending Centres in June. CMB: What do you like about working in the mortgage industry? nH: I like serving my clients; being a mortgage broker allows me to do what is in their best interests, literally and figuratively. "Clients come first" has been our motto since the day we opened. It has served us very well. We always say that if we do a mortgage once and never hear from a customer again, we've failed miserably. CMB: How would you say you have evolved as a professional since you started out? nH: In some ways I haven't changed at all, as my principals and work ethic remain the same; but in other ways, I've done a 360. Regulatory changes have altered where we get our business from and the lenders with whom we deal. e need for consumer education has increased tenfold, but rather than complaining about improper regulations, I've become more involved and proactive with my colleagues at CMBA Atlantic to be part of a stronger collective voice advocating on behalf of consumers. CMB: What do you feel are the biggest challenges and opportunities facing the Canadian mortgage industry today? nH: e biggest challenge we have is regulation. I'm all for regulation that protects consumers and increases the professionalism of our industry. But over-regulation can reduce options for consumers, decrease efficiencies, and increase costs – and that means everyone loses. We have always had one of the strongest banking systems in the world, and if you look at the low level of Canadian bankruptcies and foreclosures, the debt-to-income ratio that the Department of Finance regularly highlights is actually a red herring, in my opinion. At CMBA, we are working to ensure the regulations are about consumer protection, fairness, and professionalism in our broker industry, not based on unfounded fears and knee-jerk reactions. CMB: On the flip side, what are the biggest opportunities? nH: I think there is an opportunity for brokers to work together for the sake of our mortgage broker industry, hence my strong support of and involvement with the CMBA. I think we must use our influence in order to make changes in the mortgage landscape. On the bright side, other opportunities lie in the diversification of product offerings. We need to start looking at expanding the alternative mortgage world. I think that's really where the opportunity lies. CMB: How are you involved with CMBA – Atlantic? What value do you see in a national association? nH: When the Mortgage Brokers Association of Atlantic Canada was formed, I was asked to be a Nova Scotia director, and I did that for two years. en, I was nominated to be president and I think by all accounts, I had a very successful two-year presidency. It's been a difficult road because we are a young organization with limited resources. But, we ran successful conferences, increased our membership, and when I le we had money in the bank. We also started the search for an executive assistant. With some cash in the bank and an EA about to be hired, we should be able to do much more for our membership. As for the national group, we all work in the same industry and we all work with the same national lenders. We have regional differences, but a shared common goal of advocacy for consumers. CMB: Tell me about some recent professional achievements. nH: I've had several. On a personal basis, I am proud of the continual growth of my business and that of my company, Ideal Mortgage. I am proud of the team we have built and the potential and interest we have for continued growth. From an association perspective, I am pleased with membership growth, the success of our regional conferences, and the relationships we have developed with federal and provincial regulatory bodies. My colleague, Janet McKeough, and I have twice met with federal Finance Minister Bill Morneau and have been contacted by members of his department. To have their attention and awareness is important for our industry. is is something we will continue to develop. CMB: What is the secret to your success? nH: People have asked me what makes me successful and I have always said I've surrounded myself with very competent women. ere's my wife, Jennifer, who is my biggest fan – she understands and supports the demands of the industry. en, we have my team: Cathy Cameron, who has worked with me for over 25 years, is my document fulfillment specialist; and there is Pam Young, 'Clients come first' has been our motto since the day we opened. It has served us very well. We always say that if we do a mortgage once and never hear from a customer again, we've failed miserably.

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